Real Money

NEW YORK, May 10, 2013 /PRNewswire/ -- National Financial Partners Corp. (NYSE: NFP), a leading provider of benefits, insurance and wealth management services, announced today that NFP Health Services Administrators, LLC, a wholly owned subsidiary of NFP, has entered into an agreement with Network Health to build, implement and operate a private health benefits exchange platform in Massachusetts. NFP Health is a pioneer in the design, implementation and delivery of health benefits exchanges. Network Health is a nonprofit, comprehensive health plan for Massachusetts residents with low and moderate incomes.

Through the new private exchange platform, individuals, families, and small groups can compare plans available from Network Health and enroll online. Network Health currently offers six commercial plans to Massachusetts residents through the health plan's Network Health Choice product. NFP Health will also offer the same Network Health plans on its multi-carrier health benefits exchange, Health Services Administrators, where individuals, small businesses and producers can shop and compare plans from New England's leading health plans in one marketplace. The NFP Health benefits platform covers all administrative services, including a robust shopping portal, customer services, sales, IT, premium billing, renewals and broker tools.

Commenting on today's announcement, Nick Koulopoulos, Chief Strategy Officer of NFP Health, said, "We are pleased to work with Network Health, facilitating their entry into the commercial market with a world class shopping portal, as well as best of breed administrative services for their new members. We recognize that this is an exciting time for Network Health and we are confident that our exchange platform will provide valuable support as they expand into the commercial market. NFP Health has operated for over 40 years in New England and we have worked with most carriers in the region to offer small group and individual plans."

Also commenting, Christina Severin, President of Network Health said, "We are thrilled to begin offering coverage to an even larger percentage of Massachusetts residents, both individually and through the business community, and in doing so, expanding on our mission to improve the health and wellness of the diverse communities we serve. By partnering with NFP Health to build and operate our private exchange platform, we aim to increase accessibility for and provide options to consumers. NFP Health, with their qualifications and reputation in this marketplace, will be an important partner to us for this new program."